Former Capitec Group CEO Gerrie Fourie scored a R155 million payday in the 2026 financial year, having turned the group into the nation’s most valuable bank. <\/p>\n\n\n\n
In July 2025, Fourie retired as Capitec’s CEO after a demanding 10-year tenure. After his retirement, Fourie stayed on at Capitec in a non-executive capacity.<\/p>\n\n\n\n
Fourie was succeeded by Graham Lee, who was the CEO of Capitec’s core Personal Banking business. <\/p>\n\n\n\n
“His leadership marked one of our history’s most significant growth periods, from a disruptive newcomer to South Africa\u2019s leading financial service,” said Capitec.<\/p>\n\n\n\n
Fourie, one of the early founders of the bank at the start of the century, played a crucial role in turning it into the nation’s largest bank, with over 26 million clients.<\/p>\n\n\n\n
Fourie became CEO of Capitec Bank in 2013, when the bank had 5 million clients. He said his goal was not only to grow the business but also to prioritise clients and address their needs.<\/p>\n\n\n\n
“That client-first focus powered many of our bold moves during his tenure, from launching the banking app to rolling out Capitec Pay,” said the bank.<\/p>\n\n\n\n
During Fourie’s time as Capitec CEO, the bank acquired Mercantile, launched Capitec Business and Capitec Insurance, and expanded its global footprint through the AvaFin acquisition.<\/p>\n\n\n\n
The vast majority of Fourie’s farewell figure was influenced by Capitec’s long-term incentive plan.<\/p>\n\n\n\n
He received nearly R146 million from the vesting of these incentives. This amount comprised 23,681 share options and 23,681 Share Appreciation Rights (SARs).<\/p>\n\n\n\n
These were successfully vested due to Capitec fully meeting its performance targets and achieving significant share price growth of 159% during this period.<\/p>\n\n\n\n
For the portion of the year he worked before his retirement on July 18, 2025, Fourie’s total guaranteed pay (TGP) amounted to R8,539,000. <\/p>\n\n\n\n
This included a cash salary and provident fund contribution of R7,497,000, along with R1,042,000 in additional benefits.<\/p>\n\n\n\n
Since Fourie retired partway through the year, he was considered ineligible to receive any short-term incentive (STI) cash bonus for the 2026 financial year.<\/p>\n\n\n\n Capitec has reported a significant increase in headline earnings per share, with the bank projecting further growth. <\/p>\n\n\n\n For the financial year ending on February 28, 2026, headline earnings rose by 23% to R16.8 billion, compared to R13.7 billion in FY 2025.<\/p>\n\n\n\n Additionally, the company increased its dividend per share by 23%, growing to 7,980 cents.<\/p>\n\n\n\n \u201cThat is several years of compounding momentum \u2013 a trajectory very few can match. We are not a growth story that has peaked. We are still building,\u201d the group said.<\/p>\n\n\n\n Its net interest income rose by 19% to R24.1 billion (R20.2 billion in 2025). Interest income on lending grew by 14%.<\/p>\n\n\n\n Interest income experienced significant growth, driven by a 27% increase in loan disbursements for Personal Banking and a remarkable 48% increase for Business Banking.<\/p>\n\n\n\n The group noted that targeted offers, informed by data analytics, played a key role in boosting lending in Personal Banking, while growth in Business Banking was fuelled by scored lending.<\/p>\n\n\n\n Additionally, interest income from investments rose by 2% to R9.2 billion, attributed to a 7% growth in the average cash and investment portfolio. <\/p>\n\n\n\n However, the decline in the repo rate from 7.5% to 6.75% affected investment yields, as did a shift towards floating-rate instruments.<\/p>\n\n\n\n Despite a 5% increase in deposits and wholesale funding, the group’s interest expenses fell by 8% to R9.2 billion on the back of the reduced repo rate and the restructuring of savings accounts.<\/p>\n\n\n\n Overall, the group\u2019s total loan disbursements grew by 34% to R98.3 billion. <\/p>\n\n\n\n However, the net credit impairment charge on loans and advances increased by 21%, reflecting a 14% growth in the loan book and a rise in the credit loss ratio from 7.5% to 8.1%.<\/p>\n\n\n\n Increases in credit loss ratios were observed across all sectors: Business Banking rose to 2.4%, Personal Banking increased to 8.2%, and AvaFin saw a significant jump to 53.2%.<\/p>\n\n\n\n Gerrie Fourie retired as the CEO of Capitec after more than ten years in the position, leaving the role with R155 million in remuneration for the 2026 financial year. <\/p>\n","protected":false},"author":127,"featured_media":858399,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[1798,20195],"class_list":["post-858354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-capitec","tag-gerrie-fourie"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/858354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/127"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=858354"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/858354\/revisions"}],"predecessor-version":[{"id":858475,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/858354\/revisions\/858475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/858399"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=858354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=858354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=858354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Director<\/strong><\/td> Cash salary and provident fund<\/strong><\/td> Benefits<\/strong><\/td> TGP<\/strong><\/td> STI<\/strong><\/td> LTI\u207d\u00b9\u207e<\/strong><\/td> Total <\/strong><\/td><\/tr><\/thead> 2026<\/strong><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr> GM Fourie<\/td> 7 497<\/td> 1 042<\/td> 8 539<\/td> \u2014<\/td> 145 960<\/td> 154 499<\/td><\/tr> GR Lee<\/td> 10 877<\/td> 123<\/td> 11 000<\/td> 6 041<\/td> 34 436<\/td> 51 477<\/td><\/tr> GR Hardy<\/td> 10 649<\/td> 119<\/td> 10 768<\/td> 5 204<\/td> 27 510<\/td> 43 482<\/td><\/tr> Total<\/strong><\/td> 29 023<\/strong><\/td> 1 284<\/strong><\/td> 30 307<\/strong><\/td> 11 245<\/strong><\/td> 207 906<\/strong><\/td> 249 458<\/strong><\/td><\/tr> –<\/td> –<\/td> –<\/td> –<\/td> –<\/td> –<\/td> –<\/td><\/tr> 2025<\/strong><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr> GM Fourie<\/td> 18 662<\/td> 118<\/td> 18 780<\/td> 11 022<\/td> 75 016<\/td> 104 818<\/td><\/tr> GR Lee<\/td> \u2014<\/td> \u2014<\/td> \u2014<\/td> \u2014<\/td> \u2014<\/td> \u2014<\/td><\/tr> GR Hardy<\/td> 9 844<\/td> 121<\/td> 9 965<\/td> 5 870<\/td> 4 862<\/td> 20 697<\/td><\/tr> Total<\/strong><\/td> 28 506<\/strong><\/td> 239<\/strong><\/td> 28 745<\/strong><\/td> 16 892<\/strong><\/td> 79 878<\/strong><\/td> 125 515<\/strong><\/td><\/tr><\/tbody><\/table><\/div> Capitec’s financial results<\/h2>\n\n\n\n
Metric<\/strong><\/td> 2026 Financial Year<\/strong><\/td> 2025 Financial Year<\/strong><\/td> % Change<\/strong><\/td><\/tr><\/thead> Operating Profit before Tax<\/strong><\/td> R22.179 billion<\/td> R17.740 billion<\/td> +25%<\/td><\/tr> Headline Earnings per Share<\/strong><\/td> 14,606 cents<\/td> 11,912 cents<\/td> +23%<\/td><\/tr> Earnings per Share<\/strong><\/td> 14,590 cents<\/td> 11,911 cents<\/td> +22%<\/td><\/tr> Total Dividend per Ordinary Share<\/strong><\/td> 7,980 cents<\/td> 6,510 cents<\/td> +23%<\/td><\/tr> Net Asset Value (Total Equity)<\/strong><\/td> R59.513 billion<\/td> R50.914 billion<\/td> +17%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
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